CYTOKINETICS INC [CYTK] reports annual net loss of $526,244,000.0
![CYTOKINETICS INC [CYTK] reports annual net loss of $526,244,000.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCYTK.png&w=3840&q=75)
Company Reports Revenue of $7.5 million
CYTOKINETICS INC [CYTK] has reported a net loss of $526,244,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.5 million
Based in SOUTH SAN FRANCISCO, California, CYTOKINETICS INC operates in the MANUFACTURING sector.
In the consolidated statements of operations and comprehensive loss for the 12 months ended December 31, 2023, and December 31, 2022 are as follows:
Revenues:
- Total revenues for the current period amount to $7.53 million, a decrease from $94.59 million in the previous year.
- Operating expenses:
- Research and development expenses were $330.12 million, up from $240.81 million in the previous year.
- General and administrative expenses amounted to $173.61 million, slightly down from $177.98 million in the previous year.
- Total operating expenses totaled $503.73 million, higher than the $418.79 million recorded in the previous year.
- Operating loss for the current period is $(496.21) million, a widening loss from $(324.20) million in the previous year.
Other notable items include:
- Interest expense increased to $28.31 million from $19.41 million in the previous year.
- Non-cash interest expense on liabilities related to revenue participation right purchase agreements was $(29.36) million, higher than the $(31.74) million in the previous year.
- Net loss for the current period stands at $(526.24) million, compared to $(388.95) million in the previous year.
- Net loss per share - basic and diluted was $(5.45), an increase from $(4.33) in the previous year.
- Weighted-average number of shares used in computing net loss per share - basic and diluted remained constant at 96,524 shares.
Please note that all currency values are in millions unless otherwise specified.
Also Read:
